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Japan MOL to acquire Russia’s LNG FSU projects in Kamchatka and Murmansk

Ensuring steady access to energy resources in the Russian Arctic region should contribute to stable energy supply to Japan

Japan MOL to acquire Russia’s LNG FSU projects in Kamchatka and Murmansk

Tokyo, September 3 - Neftegaz.RU. Mitsui O.S.K. Lines (MOL) signed a Letter of Intent with the Russian state-owned transport leasing company GTLK for the potential acquisition of a 49% stake in the companies running the LNG floating storage unit (FSU) projects in Kamchatka and Murmansk.

MOL noted that the FSU owner companies have previously entered into bareboat charter agreements with Arctic Transshipment (a joint venture of NOVATEK and TotalEnergies) that will provide transshipment services to NOVATEK's LNG-projects by reloading LNG cargoes from ice-class LNG carriers to conventional LNG carriers.

MOL said that the FSUs will bring environmental benefits because:
  • by transporting LNG via Northern Sea Route and by transshipping at Kamchatka and Murmansk, it is expected to reduce voyage costs and greenhouse gas emissions
  • securing LNG at a location close to a point of consumption is believed to increase security and reliability of energy supply
Bechevinskaya Bay in Kamchatka and Ura Bay at Murmansk, Russia would be the home to two of the largest FSUs in the world, with a storage capacity of approximately 360,000 m3.
The FSUs are currently under construction at the South Korean shipyard, Daewoo Shipbuilding & Marine Engineering (DSME).

MOL have been supporting the construction from the technical and engineering perspective, in particular the basic design, plan approval and site supervision works.

Source : Neftegaz.RU

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